California car insurance company widely accused of unfair claim denials

Car insurance - Claims Denied

Residents of Southern California say National General is leaning on a loophole for denials National General policyholders in Southern California have sued their car insurance company with accusations that the insurer is using a loophole to be able to get out of paying claims. The policyholders say the insurer allegedly saves millions this way The lawsuit alleges that National General is using a loophole so that it will not be required to fulfill many of the claims that its policyholders file. According to a recent report in NBC LA, one…

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Allstate announces its agreement for SafeAuto acquisition

SafeAuto acquisition - business deal - contract

The insurer’s subsidiary National General will be acquiring the low-cost auto insurance carrier. Allstate has announced that it has come to an agreement for a SafeAuto acquisition through its subsidiary, National General. This purchase will help Allstate to expand a spectrum of its capabilities and distribution. Through the SafeAuto acquisition, Allstate will add the auto insurer’s capabilities and distribution to its own offering, including its 24/7 customer contact centers at SafeAuto’s 1-800 number, as well as through its website. By bringing the low-cost auto insurer into National General, it will…

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National General to be acquired by Allstate for $4 billion

National General - Business Deal

The insurance giant is making the purchase to expand its auto reach and independent agent business. Insurance giant Allstate Corp announced this week that it will purchase National General Holdings Corp for about $4 billion. This will be a cash purchase, boosting the insurer’s auto insurance business just as the pandemic crisis has made that sector highly profitable. Auto insurance claims are way down due to the smaller amount of traffic on the roads. National General shareholders will be compensated with $32 per share in cash. They will also receive…

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